Wisdom is an invaluable asset on a board.

• Author: Thurman, Randy
• Position: BOARD LEADERSHIP

We are living in a new world in corporate America. Globalization is a reality. Companies are now communicating and marketing through Facebook and Twitter and other means known as "social media." In my industry we are now dealing with newtechnologies such as wireless healthcare, non-invasive surgery, and personalized medicine. My own daughter is head of social media marketing for an international retail company-- a job that certainly did not exist 10 years ago. Traditional sources of news are all but gone and we now get our information on such devices as iPads and Kindles. No one can doubt that this pace of change will continue if not accelerate.

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These new world technologies provoke the questions: "Are today's directors too old to deal effectively with this pace of change and newtechnology? Should boards become more youthful?"

In a word, my answer is "no." Nevertheless, the question is very relevant and deserves greater discourse and debate.

Dick Vermeil, the NFL Super Bowl coach and a friend, was recently interviewed and asked the question: "Are today's NFL coaching staffs too young?" His answer was: "There are some things that just require experience and exposure to lead an NFL organization. There's a learning process that only comes through experience to oversee all the aspects of (an NFL team)."

I think the same answer applies to the complexities of running today's companies: There's a significant degree of wisdom and experience required to be an effective director. Of course, that wisdom also requires directors to recognize that we are living in a new world and they must insure their respective companies are adequately staffed with the talent to be competitive in today's new world. And, that may mean a younger generation of incoming company talent that relates to new world technology. But, I don't believe you address that need with a youth movement for directors.

I first became a public company director when I was only 38. However, by that age I had been a combat fighter pilot and was the newly named president of a global pharmaceutical company. My learning curve as a director was very steep, but I'd like to think that my experiences made up for my relative youth. On the other hand, I have served on three boards with a man who is now 71 years old. Each of the boards were companies in the research-based, medical technology industry. He never ceases to impress me with his contributions to innovation and technology...